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  2. I remember him and reading his writings. In some ways he was Bogle like. R.I.P. Excerpt: When it came to individual investors, for example, Swensen was a harsh critic of how the vast majority of big actively managed mutual funds offer lower returns than simple lower-cost index funds, after fees are factored in. And the mutual funds make huge amounts of money whether the fund performs well or not. Excerpt: Swensen also wrote a book, Unconventional Success, telling everyday people how to invest and avoid pitfalls like excessive fees charged by mutual funds. https://www.boisestatepublicradio.org/2021-05-08/david-swensen-the-greatest-investor-you-maybe-never-heard-of-leaves-powerful-legacy
  3. It’s a question many a personal finance educator has asked: What’s the best way to engage my students’ parents in the financial knowledge I’m teaching? Read The Full Article: https://www.cnbc.com/2021/05/06/teachers-strive-to-bring-more-parents-into-personal-finance-education-.html
  4. Two dozen state legislatures are considering bills on financial literacy education, an unusually high number, proponents say.They attribute the interest to concern about the burden of student debt, as well as heightened awareness about income and economic inequality as a result of the pandemic. Read the full article here https://www.nytimes.com/2021/04/02/your-money/financial-literacy-courses.html
  5. Last week
  6. After successive DOW and S&P record highs this year, my portfolio is up 3.3% after close of markets Friday May 7, 2021. 38/64 stock to bonds. Time to rebalance, again, to my original 30/70 AA plan. I keep taking money out of stocks and it keeps growing back!
  7. Earlier
  8. Buffett's annual shareholder letters are a good source of his philosophy, more concentrated than the recorded meetings. https://www.berkshirehathaway.com/letters/letters.html Last year's was kind of a dud, as I recall, but many of the earlier ones are memorable. He devoted a section of one (2017?) to praise of Jack Bogle. “If a statue is ever erected to honor the person who has done the most for American investors, the hands down choice should be Jack Bogle. For decades, Jack has urged investors to invest in ultra-low-cost index funds. In his crusade, he amassed only a tiny percentage of the wealth that has typically flowed to managers who have promised their investors large rewards while delivering them nothing – or, as in our bet, less than nothing – of added value. In his early years, Jack was frequently mocked by the investment-management industry. Today, however, he has the satisfaction of knowing that he helped millions of investors realize far better returns on their savings than they otherwise would have earned. He is a hero to them and to me.”
  9. Never had the time nor the interest. Bogle is plenty enough for this ordinary investor. I love and respect what he is doing with his money in the Gates foundation.
  10. 2021: https://youtu.be/gx-OzwHpM9k 2020: https://youtu.be/69rm13iUUgE One of the strangest ways I've calmed myself down about investing during this period of uncertainty has been watching Warren Buffet speak during the Berkshire Hathaway shareholder meetings. 2020 included a neat presentation on "the American tailwind" and I'm still working my way through the 2021 video. They are at least four hours long, so maybe it just exhausts my brain on the topic for the year... does anyone else watch these?
  11. Kudos to you for doing this, Scott! I've sat through many a Flex day presentation and never once was the topic of retirement planning on the menu. I think your approach of presenting a simple solution-- open the account, choose Fidelity and a target date fund, etc.--is great. I think people are easily overwhelmed by the options, figures and claims attached to 403b accounts and it becomes all too easy for them to do nothing for fear of a "wrong" decision. So saying "here's exactly what to do, it's both simple and financially sound, you don't need to pay attention to all that other noise" is great. What I would add to your four point plan is a description of WHY they should open a 403b at all. Maybe that should come first? Perhaps some basic info about how much income a typical pension (+ social security, if that applies) will replace. As I recall, Calstrs has some kind of pie chart about the share of retirement income from pension and supplemented by a 403b--that might be something you could adapt. I'd also vote for some brief demonstration (light on the math) of the value of compounding over time, so your audience sees the advantage of starting now, not later. Personally, I'd advocate for larger contributions. Yes, they can get started by contributing ten or twenty dollars per pay period, but as you know, the amount contributed makes a huge difference in the eventual result--it's the most important single factor. Maybe mention the idea of directing future raises into the 403b? Anyway, hats off to you for providing this service to your colleagues.
  12. Hi, Scott. Dan seems to be a fine fellow indeed and I think he's performed a very valuable service by maintaining this site (not to mention a book, podcasts, etc.). I assume that Dan made a conscious decision to focus on Facebook as the group's discussion platform and as I said above, so be it; it's his decision to make. I've chimed in here as a reply to Tony's comments, not expecting to initiate changes to the web site. So I haven't approached Dan, though please feel free to alert him to this discussion thread if you think he would find the subject of interest.
  13. Getting employees to go through the trouble of establishing the system is hard enough... I think we have like a 25% participation rate among all groups, 37% among classified staff. It's unfamiliar, so right now I'm thinking baby steps and low-effort/risk introductions to the experience. The calculator might make it all seem to complex, but I do like the chart that summarizes the "annuity, mutual fund, index fund" picture.
  14. I'm not sure how you work it into a 1 hour presentation, buy this calculator is fantastic for showing the effect of fees over time: https://www.360financialliteracy.org/Calculators/403-b-Savings-Calculator3 from the American Society of CPAs, or the same calculator from bankrate.com: https://www.bankrate.com/retirement/calculators/403-b-calculator/ You have to run it twice, once with AXA's 2.0% fee, and again with Fidelity's 0.1% fee. Subtract the 2 balances and you get $100,000s difference over not that many years!
  15. 👍 I'll include that in the presentation, great suggestion.
  16. I wonder if you should start off with an explanation of how fees effect the balance over time. That would allow you to show the amazing growth due to compound interest when the fees are low. That's the motivator. Some slides could show what this explains: https://403bwise.org/education#fee-impact
  17. I'm a classified employee and California Ed Code designates the third full week in May as Classified School Employee Week. As a part of this we have a professional development flex day where I get the chance to highlight 403b and 457 plans. I was thinking about giving my colleagues all the answers up front without any background first: Create a 403(b) account with Fidelity using the district plan id # Configure elections for your contributions to go 100% into a target-date index fund (choose the year closest to when you'll retire) Contribute a minimum of $20/mo. to that account automatically no matter what Contact me in 30 years and let me know if this was a good decision How do you all think that would go over? I kind of want to highlight that this can be extremely hands-off and you don't need any knowledge of stocks, bonds, markets, crypto, beanie babies, etc. to get (most likely positive) market returns. It's seems like an low cost ticket to experience the show. I have an hour to work with. The rest could be Q&A or data that supports the argument. It's an opportunity for interaction, so I could get some of the people who've been utilizing the plans to share experiences or ask, "tell me why I shouldn't put money in a 403(b)?"
  18. Have you pointed out your forum marketing and engagement feedback/suggestions to Dan? He doesn't seem like a malicious fellow with a hidden agenda to burn down the message board... @Admin
  19. This thread may answer your question: https://board.403bwise.com/topic/2232-default-on-403b-loan/
  20. I think the board members' will need to know about the type of loan, (is it a loan from a traditional 403b account?) and as many details about the loan and "the money I been investing in it" as possible before we can give you advice (beyond paying off the loan).
  21. Exactly, Tony. I think the admin decided to euthanize this board by making it difficult to find: if there were a big link to "discussion board" or "discussion forum" on the home page of 403bwise (I believe that there was such a link, once upon a time), I'm sure more people would come here. Now, one has to bypass the big link about the Facebook group, instead click on the vague term "community," then click through another two or three pages to get to this discussion board. So it barely has a pulse and seems not long for the world. Of course the admin gets to do what he wants, if the Facebook option seems more user friendly to 403b info seekers and/or simplifies the administrative burden, so be it. I'm with you in preferring not to participate on Facebook--the Bogleheads forum remains a great resource for those who prefer this format.
  22. I never knew that the loan would be incurring interest and it would eat up the money I been investing in it, what can I do?
  23. I had to get the medallion signature on one of my exchanges moved from an annuity over to Vanguard, but not the 2nd time I did it (smaller amount). I'm pretty sure it was the company I was leaving that required it.
  24. I don't mean to be harsh but I think the administrators of this board don't much care about it anymore. You never hear from them anymore much. Even some other posters here keep beating the facebook drum. I don't have a problem with promoting Facebook if it's attracting more teachers. After all the ultimate goal should be to expose the harm insurance companies are doing to teacher savings . Still there should be some linkage to this board . Does this board ever get promoted on the facebook group ? One thing I have noticed over the years is younger folks whom I call the" texting generation " have very short attention spans and the facebook format suits their short attention spans. People like me that write too much and can't cut their comments short are not their style. My son is an example. He wants quick answers often without the in depth details. I know a good number of people do still come to this board if you look at some of the views our posts get. Perhaps we are too intimidating here and folks don't feel like commenting. I mean seriously who knows more than Krow or Ed or Steve or Whyme and others? Nobody can track down answers to questions with such specifics as Krow can. Perhaps some of us out of the school mainstream just aren't important anymore as younger folks would rather hear from their comtemporaries. Oh well life goes on Tony
  25. Wow how did you get this before I even posted it. Thats kinda strange.
  26. Thanks Tony. I got a little distracted with life and realized I hadn't checked the boards in months!
  27. I applaud Ed for really pushing and evaluating NEA DirectInvest. I would never had known it existed and wouldn't have known how good it was if it wasn't Ed beating the drum. Glad to see you back commenting Ed. I bring up Aspire a lot because I invested in it and am familiar with it. At that time it was a pretty good addition and helped us break the monopoly like control of insurance companies. It was a step in the right direction. As long as they make the self direct option available to all its a=still a decent option. But this relationship with Edward Jones is not good.
  28. Teach76, I hope you return and tell us more about your district. You need a low-cost 403b because you can’t do an exchange between a 403b and a 457b unless one is with a previous employer. How many years have you been with AXA? The surrender fee is waived after 12 years. Who is your TPA (third party administrator)?
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